Last year a firm made 1,000 units of its product available at a price of $5 per unit.This year the firm will still make 1,000 units available,but only if the price is $7 per unit.What is most likely to have happened?
A) Supply has increased
B) Supply has decreased
C) Demand has decreased
D) Demand has increased
E) Quantity supplied has increased
Correct Answer:
Verified
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